Zambia's rate of inflation goes up to 8.3%

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The annual Inflation rate for the month of October has increased to 8.3 percent from 7.9 percent recorded in September 2018.

Acting Director of Census and Statistics Goodson Sinyenga explained that the increased inflation rate entails that prices for goods and services increased by 8.3 percent between October 2017 to October 2018.

Mr Sinyengasays the increase in inflation is mainly attributed to the purchase of vehicles, fuels, lubricants and passenger transportation by air.

He said Lusaka has recorded the highest provincial contribution of 2.6 percentage points to the overall inflation rate of 8.3 percent recorded in October 2018.

Mr Sinyenga further noted that the price movements in Lusaka province had the greatest influence on the overall annual rate of inflation.

He also disclosed that the Copperbelt province had the second highest at 1.5 percent while Luapula and North Western provinces had the lowest at 0.3 percent.

He said this at a media briefing on the CSO monthly bulletin in Lusaka.


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